Explain why my mortgage rate jumped
Your variable-rate mortgage payment went up. You want to understand it, not just panic. Brief an AI to walk you through it like a calm friend.
Difficulty: Intermediate · Genre: Explain
The scenario
Loan: 25-year variable rate, current balance ~$220k, payment up by $180/month this quarter. You know the central bank raised rates last year. You are NOT a finance person.
The goal
An AI should explain in 6-8 sentences: how variable rates work, why a central-bank hike feeds through, what your options are now (fix, refinance, accept), and what to consider for each.
What a strong brief covers
Should ask for: plain language, your specific loan setup, the central-bank context, the option list, and a calm tone — not financial sales talk.